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# A Polarity Theory for Sets of Desirable Gambles

*Proceedings of the Tenth International Symposium on Imprecise Probability: Theories and Applications*, PMLR 62:37-48, 2017.

#### Abstract

Coherent sets of almost desirable gambles and credal sets are known to be equivalent models. That is, there exists a bijection between the two collections of sets preserving the usual operations, e.g. conditioning. Such a correspondence is based on the polarity theory for closed convex cones. Learning from this simple observation, in this paper we introduce a new (lexicographic) polarity theory for general convex cones and then we apply it in order to establish an analogous correspondence between coherent sets of desirable gambles and convex sets of lexicographic probabilities.